Eight months in office, on October 29, 1929, the stock market crashed, fueling a growing depression that became the most severe economic crisis the United States had ever known, and second only to the Civil War as the greatest domestic crisis in the nation's history.
Although Hoover has been blamed for the stock market crash, he, in fact, warned President Coolidge in 1925 about the dangers of excessive stock market speculation. He again expressed concern while running for president in 1928.
Eight months in office, on October 29, 1929, the stock market crashed, fueling a growing depression that became the most severe economic crisis the United States had ever known, and second only to the Civil War as the greatest domestic crisis in the nation's history.
Although Hoover has been blamed for the stock market crash, he, in fact, warned President Coolidge in 1925 about the dangers of excessive stock market speculation. He again expressed concern while running for president in 1928.